Advertisements
Advertisements
Question
Identify the value of elasticity of supply for the supply curve OS and S1S2.
Options
OS > 1, S1S2 < 1
OS < 1, S1S2 > 1
OS < 1, S1S2 = 1
OS = 1, S1S2 > 1
Solution
OS = 1, S1S2 > 1
APPEARS IN
RELATED QUESTIONS
Draw a perfectly inelastic supply curve.
Identify the elasticity of supply for the following with proper reasoning:
Primitive and advanced technology.
What is the formula for percentage method of calculating price elasticity of supply?
Identify the elasticity of supply for the following with proper reasoning:
Short run and long run period.
Identify the elasticity of supply for the following with proper reasoning:
Perishable and durable goods.
If price elasticity of supply is greater than 1, then supply is said be elastic.
Which of the following statements are true?
The cost of production will increase if
- The government gives subsidies
- The firm uses obsolete technology
- The price of diesel increases
Define elasticity of supply.
Draw a straight line supply showing elasticity greater than one.
The coefficient of elasticity of a commodity is 0.4. What percentage change in supply will take place if its price rises 20%?
The quantity of a commodity supplied increases by 25% when its price rises by 10%. Calculate price elasticity of supply.
Cotton and cotton seeds are examples of ______ supply.
Define price elasticity of supply.
Using graphs, explain any four types of elasticity of supply.
If the price of a commodity falls by 10% and consequently, the quantity supplied decreases by 20%, what will be its elasticity of supply?
Why does the measure of pnce elasticity of supply of a good carry plus sign?
Draw relatively inelastic supply.
